Yungehuo pulls in series A capital

Aug 14, 2019 • Callum Cyrus

Legend Capital led a $14.2m round for cargo delivery services platform Yungehuo, which has earmarked the funding for further business expansion.

Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, led a RMB100m ($14.2m) series A round for China-based logistics services provider Yungehuo on Monday.

VC firm ZhenFund also participated in the round, together with investment firm Cowin Capital and undisclosed existing backers.

Founded in January 2018, Yungehuo has created a software platform with more than 10,000 users that connects businesses to logistics service providers across sea, air and land, in addition to adjacent services such as shipping insurance.

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